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The 23rd Annual Conference on Bank Structure & Competition

Since the early 1960s, the Federal Reserve Bank of Chicago’s Conference on Bank Structure and Competition has served as a forum for academics, regulators and industry participants to debate current issues affecting the financial services industry. Each year the purpose of the conference is to continue that tradition. This retrospective on the history and evolution of the conference reviews the past four decades of conferences.

 

The primary motivating factor for the conference was the passage of the 1960 Bank Merger Act and the U.S. versus Philadelphia National Bank Supreme Court decision. Suddenly, bank regulatory agencies were required to consider competitive factors in addition to banking factors when evaluating bank merger applications. Each of the Federal Reserve Banks was encouraged to survey the existing literature on bank structure and develop its own research agendas on these issues.

Wednesday, 05/06/87
8:00 AM
I. Special Addresses
The Customer Is Always Right: The Case for Functional Regulation of Financial Services
Hans H. Angermueller, Citicorp/Citibank, N.A.
9:00 AM
II. Financial Innovations and the Merging of Commercial and Investment Banking Activities
Introductory Remarks on the Merging of Commercial and Investment Banking
Martha R. Seger, Board of Governors of the Federal Reserve System
Financial Innovations and the Merging of Commercial and Investment Banking Activities
William J. McDonough, First National Bank of Chicago
Financial Innovation: Opportunities, Risk and Regulation
John G. Heimann, Merrill Lynch Capital Market
Clubs, Markets and Variations on a Theme by Senator Glass
Alex J. Pollock, Marine Bank, N.A.
Financial Innovations and the Merging of Commercial and Investment Banking Activities
Jack M. Guttentag, University of Pennsylvania
12:00 PM
III. Expanding Bank Powers: International Perspectives
An Introduction to Expanding Bank Powers: International Perspectives
William S. Ogden, Continental National Bank
Expanding Bank Powers: A Canadian Perspective
Allan Popoff, Department of Finance of Canada
Comments on Expanding Bank Powers: An International Perspective
W. Peter Cooke, Bank of England
Expanding Bank Powers: International Perspectives
Yuko Oana, Dai Ichi Kangyo Bank, Ltd.
Risks and Profitability in the Banking System: Assessment and Prescription
Thomas S. Johnson, Chemical Bank
3:00 PM
IV. Benefits of Expanded Bank Powers for Community Banks
Problems of Community Banks and Their Need for Expanded Powers
P. Michael Laub, American Bankers Association
The Thrift Institutions' Experience with Service Corporations
Harold Olin, U.S. League of Savings Institutions
Benefits of Expanded Bank Powers for Community Banks
O. J. Tomson, Citizens National Bank
Thursday, 05/07/87
8:00 AM
V. Asset Sales
The Paradox of Loan Sales
Gary B. Gorton, University of Pennsylvania
Joseph G. Haubrich, University of Pennsylvania
Why Commercial Banks Sell Loans: An Empirical Analysis
Christine Pavel, Federal Reserve Bank of Chicago
David Phillis, American National Bank
9:00 AM
VI. Interest Rate Swaps
Credit Risk and the Scope of Regulation of Swaps
Clifford W. Smith, University of Rochester
Charles W. Smithson, Chase Manhattan Bank
L. Macdonald Wakeman, Chemical Bank
Alternate Explanations of Interest Rate Swaps
Larry D. Wall, Federal Reserve Bank of Atlanta
John J. Pringle, University of North Carolina
Discussion of Practical Aspects of Interest Rate Swaps
Linda T. Rudnick, Harris Trust & Savings Bank
11:00 AM
VII. Failures and the Regulatory Response
An Examination of Bank Failure Misclassifications Using the Cox Model
Stephen W. Looney, Louisiana State University
James W. Wansley, Louisiana State University
William R. Lane, Louisiana State University
The Ohio S&L Crisis in Retrospect: Implications for the Current Federal Deposit Insurance Crisis
J. Huston McCulloch, Ohio State University
How to Get Off the Back of a Tiger, or Do Initial Conditions Constrain Deposit Insurance Reform?
Claudia Campbell, Washington University
Hyman P. Minsky, Washington University
1:00 PM
VIII. Public Policies toward Failing Institutions: The Lessons from the Thrift Industry
Public Policy toward Failing Institutions: The Lessons from the Thrift Industry
George G. Kaufman, Loyola University Chicago and Federal Reserve Bank of Chicago
The Current Magnitude of the Problem in the S&L Industry
Elijah Brewer III, Federal Reserve Bank of Chicago
Does Capital Forbearance Pay and, if So, for Whom?
Gillian Garcia, U.S. General Accounting Office
Michael Polakoff, U.S. General Accounting Office
Who Should Learn What from the Failure and Delayed Bailout of the ODGF?
Edward J. Kane, Ohio State University
Samuel H. Talley, Banking Consultant
Managing the Troubled Thrift
Lawrence Connell, Prather, Seeger, Doolittle & Farmer
A Practical Perspective on Thrift Difficulties
William E. Gibson, Continental Bank
Assessing the Management Consignment Program
Paul M. Horvitz, University of Houston
Friday, 05/08/87
8:00 AM
IX. Small Bank Problems
Local Economic Effects of Bank Failures
R. Alton Gilbert, Federal Reserve Bank of St. Louis
Levis A. Kochin, University of Washington
Problem Banks: The Phoenix Factors
Daniel Huyser, Office of the Comptroller of the Currency
Determinants of Small Bank Acquisition Premiums
Donald R. Fraser, Texas A&M University
James W. Kolari, Texas A&M University
10:00 AM
X. The Theory of Financial Intermediation and the Banking Firm
The Valuation Cost Approach to the Theory of Financal Intermediation
Tim S. Campbell, University of Southern Carolina
Finance Theory and Financial Intermediation
C. W. Sealey, Jr., McGill University
11:00 AM
XI. Risk, Market Discipline and Information
Off-Balance-Sheet Items and the Changing Market and Interest Rate Sensitivity of Deposit-Institution Equity Returns
Haluk Ünal, Ohio State University
Edward J. Kane, Ohio State University
Market Discipline, Information Disclosure and Uninsured Deposits
George G. Pennacchi, University of Pennsylvania
Modeling Credit Exposure on Swaps
Mark Muffett, Bank of England
1:00 PM
XII. Bank Lending Decisions
The Relationship between Returns to Risky Lending and Gap Management
George Emir Morgan, Virginia Polytechnic Institute
Stephen D. Smith, Georgia Institute of Technology
Designing the Optimal Loan Review Policy
Gregory F. Udell, New York University
Robert A. Eisenbeis, University of North Carolina at Chapel Hill
Optimization and Bank Management: Comments on Papers by Udell and by Morgan and Smith
Richard W. Nelson, State University of New York
2:30 PM
XIII. Recent Evidence on the Structure–Performance Relationship
The Price-Concentration Relationship in Banking
Allen N. Berger, Board of Governors of the Federal Reserve System
Timothy H. Hannan, Board of Governors of the Federal Reserve System
Structure–Performance Relationships in Regional Banking Markets
Constance R. Dunham, Federal Reserve Bank of Boston
Branch Banking, Market Concentration and the Competition for Small Firm Business
John D. Leeth, Southern Methodist University
Jonathan A. Scott, Federal Home Loan Bankof Dallas
William C. Dunkelberg, Purdue University
4:00 PM
XIV. Bank Equity Markets
The Effects of New Capital Issues on the Prices of Bank Holding Company Shares
Steven C. Isberg, Northern Illinois University
Donald M. Brown, U.S. Department of Justice
Bank Equity Returns: The Difference between Intrastate and Interstate Bank Mergers
Francisco de Cossio, University of South Carolina
Jack W. Trifts, University of South Carolina
Kevin P. Scanlon, University of Notre Dame
Federal Tax Treatment for Bank Loan Losses and Bank Capital Adequacy
Gerald A. Hanweck, George Mason University

 

A Brief History of the Conference

Since the early 1960s the Federal Reserve Bank of Chicago’s Conference on Bank Structure and Competition has served as a forum for academics, regulators and industry participants to debate current issues affecting the financial services industry. Each year the purpose of the conference is to continue that tradition. This retrospective on the history and evolution of the conference reviews the past four decades of conferences.

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Event Information
Event Contact
Blanca Sepulveda
(312) 322-8340
Email
Date
05/06/87  - 05/08/87
Location
The Fairmont Chicago Hotel
200 N Columbus Dr
Chicago, Illinois 60601
Map


Federal Reserve Bank of Chicago, 230 South LaSalle Street, Chicago, Illinois 60604-1413, USA. Tel. (312) 322-5322

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